Knakal, Smadbeck and Hageman of Cushman & Wakefield retained to sell 117 West 79th Street

New York, NY Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of 117 West 79th St., a pre-war elevator serviced building. The property is situated on the north side of West 79th St. in the  Upper West Side neighborhood. Constructed around the turn of the 20th Century, 117 West 79th St. is located on a tree-lined street and is representative of the architecture that lines the Upper West Side. The building is one property removed from the corner of Columbus Ave. where the American Museum of Natural History is located across the street. The wide street and historic designation provides a tremendous amount of protected natural light in one of Manhattan’s most desirable residential communities. In its present state, the property stands seven stories tall and contains approximately 32,172 gross s/f above grade. The property will be delivered almost completely vacant at closing allowing prospective purchasers the opportunity to commence work immediately. Given the exclusive location and insatiable demand for high-end residences, 117 West 79th St. represents an opportunity for a developer to convert the building into condominiums. Additional value can be created through tenant amenities including a beautiful terrace on the expansive roof, landscaped garden in the rear yard, fitness center, laundry facility/service, a security system and automated or 24-hour doorman. The Upper West Side is recognized for its cultural amenities, fine dining, exclusive shopping, notable educational institutions and convenient public transportation that attracts some of the wealthiest city residents. Prospective purchasers are afforded the rare opportunity to acquire a world-class conversion opportunity steps from Central Park in arguably the most supply constrained Manhattan neighborhood. Bob Knakal, chairman, New York Investment Sales at Cushman & Wakefield is exclusively marketing this property with Paul Smadbeck and Jonathan Hageman.